Question: On July 1 , 2 0 2 3 , Academic Learning Services entered its second month of operations. On July 3 1 , 2 0
On July Academic Learning Services entered its second month of operations. On July Breanne Allarie, the owner, finalized the companys records that showed the following items.
Accounts payable $
Accounts receivable
Cash
Computer equipment
Furniture
Breanne Allarie, capital, June
Office rent expense
Owners investments during July
Owners withdrawals
Supplies
Textbook rental revenue
Tutoring revenue
Tutors wages expense
Utilities expense
Hint: The ending capital balance for one period is the beginning capital balance for the next period.
Use the above information to prepare a July statement of changes in equity for Academic Learning Services. Enter all values as positive.
Analysis Component:
Identify those activities that caused equity to decrease during July You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.
check all that apply
Loss earned during the month.
Withdrawals by Breanne Allarie.
Change in accounts receivable.unanswered
Sale of automobiles.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
